Russia/Ukraine: Africa looks to reduce impact of war
SETH ONYANGO, BIRD STORY AGENCY THE African Export-Import Bank (Afreximbank) has unlocked a 4 billion US dollars credit line to help the economies and businesses blunt the knock-on effect of the war, as the continent braces for a longer conflict. Afreximbank approved the launch of the Ukraine Crisis Adjustment Trade Financing Programme for Africa (UKAFPA) on 31 March 2022, as states across the continent ponder a fiscal response to tame inflationary pressures. UKAFPA is designed to help countries to meet immediate import price increases pending domestic demand adjustments and commodity export revenue stabilisation. Professor Benedict Oramah, President and Chairman of…